Clairvest-backed Light Tower Rentals completes recap
Light Tower Rentals, which is backed by Clairvest, has closed a recap with new investors that include StepStone and Constitution Capital Partners. This follows a $330 million U.S. bond offering. As part of the transaction, LTR shareholders sold 44.2 percent of their equity for $100 million. Clairvest collected $49.9 million and will continue to own a 29.2 percent stake in LTR. Based in Odessa, Texas, LTR is a provider of oil rig equipment.
2 September 2014•2 mins read
